First Timer Guide To Buy Your First Condo

1) Study the Contractor: Not all contractors are likewise. Many have a reputation for succeeding, while others cut corners and construct top quality condos and construct condominiums that are substandard. Besides reviewing the contractors webpage, one should likewise do an internet search for discussion boards and watchdog reports, suits for existing and planned condominiums. One thing to consider is if the contractor who i you might be considering, has a background for completing their jobs punctually. I had a customer who bought using a contractor (who'll remain nameless in this post) that habitually pushed back end dates. My customer was assured a little under 3 years after buying the unit, as well as the contractor delayed possession 3 times from their initial planned end date to the keys. After many frustrating delays, the keys were closing received by him a whole 2 and also a half years following the first scheduled completion date. This linked his down payment money up for a total of 5.5 years. It was nearly like a 2.5 year interest free loan to the contractor! In hindsight, as an investor, he'd have liked to spend money on a different job at 15% down payment, then choose the other 10% and conserved another 5%, and pooled that money into another job, returning him possibly double the yield, as well as in 2.5 less years. This is the reason it is worth it to find out more about the contractor!
2) Select the kind of condo which matches your lifestyle: Not all condominiums are likewise. Some have rules about pets, and age limitations. Other condominiums tend to be more family friendly when it comes to amenities and the unit sizes. Still others cater to retiree's. A good approach to discover this is take a glance in the amount of efficiency, one, two and three bedroom units in the complete building. It's also possible to contact the Yio Chu Kang EC property manager for the condominium to check whether it is a lifestyle condominium catering to a demographic that is specific. The ones that have fewer three and two bedroom units will probably not bring big families.